DANANG EYES GRDP OF VND660 TRILLION BY 2030 WITH DOUBLE-DIGIT GROWTH

A panoramic view of Danang City – PHOTO: HOANG LE

DANANG – The central coastal city of Danang has set ambitious economic targets for 2030, with gross regional domestic product (GRDP) projected to exceed VND660 trillion and average annual growth of at least 11%.

The goals were outlined in a political report presented by the city’s Party Committee ahead of its congress for the 2025-2030 term. Danang also aims for per capita GRDP of US$8,500 by 2030.

Development investment in the 2026-2030 period is expected to surpass VND710 trillion, growing 14-15% annually. Public budget revenue is targeted to rise by at least 10% per year, with investment accounting for 28% of GRDP.

To achieve these targets, the city will restructure its economy around six key sectors. Tourism and services will be developed with a focus on cultural heritage, medical tourism, and resort real estate, with revenue from accommodation, travel, and dining projected to grow 14-15% annually.

Danang also plans to expand logistics and become a major trade and logistics hub for Central Vietnam and the Central Highlands, with the sector expected to contribute around 15% of GRDP by 2030.

For industrial production, the city will promote high-tech, processing, and manufacturing activities following green and sustainable models. It aims to become a regional center for auto parts, multi-purpose machinery, and silica-based products, while also accelerating the development of the information technology and semiconductor industries. Revenue from the sector is targeted to grow two to three times faster than overall GRDP.

The agricultural sector will be modernized through high-tech farming and the development of the marine economy. A modern fishing hub will be established, with seafood output projected at 165,000-170,000 tons annually.

Urban development will also be a priority, with plans to build coastal urban chains and new green, modern residential areas in the eastern part of the city.

Alongside these growth drivers, Danang will place strong emphasis on the private sector. The city will try to remove bottlenecks related to land, credit, technology, and markets, while pushing ahead with administrative reforms to improve the business climate and enhance its provincial competitiveness index.

Private sector growth is expected to average 11.5-12% per year, contributing 60-62% of GRDP by 2030. The number of private enterprises is projected to rise by 20-30%. Danang also expects to have more than 70 science and technology firms, including at least five major companies, and about 500 innovative startups. The digital economy is projected to account for 35-40% of GRDP by the end of the decade.

Source: The Saigon Times